Cabinet has approved €1 million in compensation for Cyprus Airways for losses sustained because Turkey prohibits Cyprus-registered airplanes from using its airspace, thereby making flights longer and more expensive.

Two new coronavirus cases and one more death were announced by the health ministry on Tuesday, bringing the total number of cases to 903.

In 2018, 26.6% of people in Cyprus lived in flats — below the EU 27 average of 46%, according to figures published by Eurostat on Wednesday.

EY Cyprus held a webcast on Tuesday, May 12th, titled Beyond COVID-19: Business Transformation Accelerated, which was attended by executives from over 100 businesses based in Cyprus. The webcast addressed the need for organisations to accelerate Business Transformation, as a result of the COVID-19 pandemic, in order to get aligned with the altered customer behaviour, the need for cost optimisation and the reformed workplace experience. The webcast was presented by professionals of EY Cyprus with expertise in the business transformation process.

The COVID-19 crisis is being defined by four distinct consumer behavior segments, according to the first edition of the EY Future Consumer Index, a survey of 4,859 people tracking consumer sentiment and behavior across the US, Canada, the UK, France and Germany . These are “Cut deep”, “Stay calm, carry on”, “Save and stockpile” and “Hibernate and spend”.

Cyprus is preparing to reopen the country’s airports in mid-June but under certain conditions for entry, said Transport Minister Yiannis Karousos.

The government on Monday extended a flight ban until May 28 as part of measures to stop the spread of the coronavirus on the island.

Three new cases of coronavirus were announced by the health ministry on Monday, bringing the total to 901.

The University of Cyprus’ Economics Research Centre has projected that the country’s GDP is set to drop by 6.9% in 2020 under a baseline scenario and by 13.1% under an adverse scenario.

Cybarco Development Ltd, a member of the Lanitis Group, resumed construction works at its projects last week, with strict security and hygiene measures in place for the health and safety of its staff. Adhering to the regulations to minimise all potential risks presented by Covid-19 during these unprecedented times, the restart is part of a broader strategy to ease restrictions and restore business for the benefit of the local community and the economy.